Heelstone Renewable Energy has acquired the Cypress Pointe Solar Project in East Texas, adding a planned 188-megawatt solar facility to its growing renewable energy portfolio as electricity demand continues to rise.
Heelstone Renewable Energy announced it has acquired Cypress Pointe Solar, a development-stage solar project in Sabine County, Texas, with a planned installed capacity of approximately 188 megawatts (MWp).
The utility-scale solar project is expected to begin commercial operations in 2029 and will be located within the Southwest Power Pool (SPP) market, positioning it to serve a region where electricity demand is projected to grow significantly.
According to Heelstone, the project's location offers broad commercial flexibility, allowing the company to pursue power purchase agreements with a variety of customers including:
The company said the project has already secured full site control and enjoys strong support from the local community.
Heelstone CEO Mike Weich said the acquisition strengthens the company's long-term growth strategy.
CEO Mike Weich: "Cypress Pointe Solar is a strong addition to our portfolio and reflects our continued focus on building a high-quality development pipeline. We look forward to progressing it towards construction while continuing to pursue additional acquisition and development opportunities across the United States."
CEO Weich continued: "This transaction marks a pivotal step forward for Heelstone, strengthening its near-term construction pipeline while enhancing the scale, diversification, and earnings potential of its portfolio."
Alejandro Ciruelos, Partner for U.S. Operations at Qualitas Energy, said the acquisition reinforces Heelstone's position as a fully integrated independent power producer.
The acquisition follows Heelstone's financial closing in July on three additional solar projects totaling 86 MWp, continuing the company's expansion across the United States as demand for renewable energy grows.
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